Marine Hull Insurance - Young Insurance

Policies

Inland Marine Hull Insurance Policy (Voyage)
Inland Marine Hull Insurance Policy (Time)
Oversea Marine Hull Policy (Voyage)
Oversea Marine Hull Policy (Time)

Premium Rating

Define on the kinds of vessel, width, length, height, Gross Registered Tonnage, vessel’s age and water area.
Iron body (Oversea/Domestic)

Normal Premium Rating

Vessel’s age (Year)	Hull & Machinery	Increased Value
1-5	2.00%
6-10	2.25%	0.30%
11-15	2.50%
16-20	2.75%	0.65%
Over 20	3.00%

Deductible -500,000/- or equivalent

Additional Coverage Premium Rating

war, strikes, malicious acts and nuclear – 0.5%
Wooden Body Domestic (Oversea is not allowed)
River Commercial Vessel : 1.4%
Coastal Commercial Vessel : 1.8%
Coastal (Fishing Boats) : 2.0%

Short Term Rating Voyage

Within 15 days of 1 year premium – 1/12
1 month – 2/12
2 months – 3/12
3 months – 4/12
4 months – 5/12
5 months – 6/12
6 months – 7/12
Over 6 months – 1 full year

Insurance Period

(a) Voyage
(b) 1 year from the date of premium payment

Insurance Value

This is the agreed value between insurance company and policy holder.